This exact question is probably one of my frequently asked questions with regards to credit and credit scores. A friend of mine, a mutual mortgage originator, instructed his borrower to pay off some collections on his credit report without proper knowledge…
Getting a home loan or mortgage for a First-Time Home Buyer can be a little overwhelming with all of the important details, constant guideline changes and federal regulations the mortgage industry faces today. Luckily, we are here to help and…
Continue reading the "First-Time Home Buyer Do’s and Don’ts" »
Facts About Identity Theft: It’s estimated that there were 10 million victims of identity theft in 2008, and 1 in every 10 U.S. consumers have reported having their identity stolen. The U.S. Department of Justice reported in 2005 that 1.6…
Continue reading the "Ten Things You Can Do To Protect Your Identity" »
While the actual credit score has a big impact on a loan approval, it’s not the only component of the credit scenario that underwriters consider for a mortgage approval. Since loan programs, individual lenders and mortgage insurance companies all have…
Continue reading the "Is There A Rule-of-Thumb Regarding The Number Of Credit Lines To Have Open?" »
While the basic Rule-of-Thumb for acceptable credit history is a minimum of four trade lines documented on a credit report, there are alternative methods of building a credit picture that an underwriter can use to make a decision for a…
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Knowing what questions to ask your lender during or before the loan application process is essential for making your mortgage approval process as smooth as possible. Many borrowers fail to ask the right questions during the mortgage pre-qualification process and…
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How can a fully approved loan get denied for funding after the borrower has signed loan docs? Simple, the underwriter pulls an updated credit report to verify that there hasn’t been any new activity since original approval was issued, and…
Continue reading the "Top 10 Credit Do’s and Don’ts During Mortgage Approval Process" »
